Cohousing-L Mailing List: RE: Community Finances

[Rob Sandelin (floriferous]

At Sharingwood, our annual budget has $1,000 in overage coverage, which is a
sort of slush fund for expenses we did not anticipate. By September, that
money is then open for project use, if the budget is in good shape, which is
often the case. We have about $3,000 in a projects budget which rolls over
into the next year if it is not spend, as is the unspent overage amount.
This way, in theory, the project budget just builds if it is not spent. This
year, we used it all up on the Patio, so it will go back to zero and next
year  will start again. There is also a $1,000 board budget, which the board
uses at its discretion, people can apply to the board to use that money for
community purposes. So, there is about $5,000 available for the year, most
of which has not gotten used so it rolls over.

We arrive at the project budget by basically putting any money not in the
operating costs budget. Operating costs are the bills we have to pay, the
project is everything else. Teams also have budgets, some of which include a
bit of money for specific projects the team is undertaking.

Occasionally we do a special assessment. For example, on the patio project,
you had the choice of doing 6 hours of work, or paying a special assessment
of $120 to pay for labor for you. Or  bartering or other deal  making. We
also take contributions towards things, the latest being a bench that was
privately funded.

Rob Sandelin
Sharingwood


-----Original Message-----
From: cohousing-l-admin [at] cohousing.org
[mailto:cohousing-l-admin [at] cohousing.org]On Behalf Of Becky Schaller
Sent: Thursday, July 18, 2002 8:01 PM
To: cohousing-l [at] cohousing.org
Subject: [C-L]_Community Finances


I have a question about community finances.   We have a certain amount of
money set aside for captital improvements, another amount set aside for
maintenance and repair, and another amount for unexpected repairs and
problems. What we don't know is how much we should have in each line item.
Does anyone have any advice as to how to arrive at such figures?
I appreciate any help you can give.

Becky Schaller
Sonora Cohousing
Tucson, Arizona
Where the airconitioning in the common house recently went out and the
company that made them filed chapter 11. And where all heating systems seem
to be working exceptionally well right now.

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